REPUBLIKA NG PILIPINAS MINISTRI NG PANANALAPI MAYN I LA
FINANCE DEPARTMENT ORDER NO. 56-87
In accordance with Section 8 of Presidential Decree No. 1956, as amended by Executive Order No. 137 which states that the Oil Price Stabilization Fund (OPSF) shall be used, among others, "to reimburse the oil companies for cost increases in crude oil and imported petroleum products resulting from exchange rate adjustment and/or increase in world market prices of crude oil" and pursuant to the provisions of DOE Resolution Nos. 87-02 and,87-03 dated February 7, 1987 and March 16, 1987 respectively, the following are hereby promulgated:
1. Effective January 1, 1987, the oil companies are authorized to pay/reimburse from the Oil Price Stabilization Fund at the rates detailed below. Furthermore, effective March 1, 1987, reimbursements from the fund are increased from the average P 0.,101 per liter (effective January 1, 1987) to P 0.72 per liter. The new reimbursement rates are as follows:
Rate (peso per liter) Eff. Jan. 1,
Eff. Mar. 1,
Product
1987
1987
Premium gasoline Regular gasoline
.529 .569
.709 .714
Avturbo
.327
.844
Kerosene
.002
.465
Diesel Fuel Oil
.458*
.404
.367 .398*
1.098 .752
Feedstocks (naphtha
.027* .269 ' .367
1.098
residual fuel, refinery gases) Average rate
.101
.72
LPG Asphalts
Solvents
*
.b05 .777
payment
Only domestic sales affected by the aforementioned BOE Price Order are entitled to the reimbursement. Products sold under terms and prices other than those set by the Board of Energy are not entitled to reimbursement under this scheme. Sales between and among oil companies are also excluded.
ISANG BANSA, ISANG DIWA, (SANG WIKA
2
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2. The existing wholesale and pump/retail prices of petroleum products shall be maintained. 3. Application procedures for reimbursement shall be consistent with the provisions of Ministry of Finance Circular No. 2-86 dated January 28, 1986. The applicable provisions of previous government orders and circulars providing for, among others, payments/claims for cost differential due to the fluctuations in exchange rate as well as on the foreign exchange risk fee provisions shall continue to apply. Please be guided accordingly.
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respective Services which are usually signed by Under- secretary P. H. Almanzor. Tiowever, all papers involving. Administrative Cases and opinion on Local ...
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appointment of government personnel, recommendations for positions, or any. other matter calling for action or decision. This Order shall be without prejudice to ...
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and execution of local government budget policies, determination of. financial capability to ... actually receiving at the time of the effectivity of this Department ... DEPARTMENT ORDER NO. 66.pdf. DEPARTMENT ORDER NO. 66.pdf. Open.
